Sutro Biopharma, Inc. (NASDAQ:STRO) Short Interest Update

Sutro Biopharma, Inc. (NASDAQ:STRO) was the recipient of a large growth in short interest during the month of June. As of June 15th, there was short interest totalling 2,290,000 shares, a growth of 20.5% from the May 31st total of 1,900,000 shares. Based on an average trading volume of 978,300 shares, the days-to-cover ratio is presently 2.3 days.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. HC Wainwright reiterated a “buy” rating and set a $12.00 price target on shares of Sutro Biopharma in a report on Tuesday, May 14th. Oppenheimer restated an “outperform” rating and set a $10.00 price objective on shares of Sutro Biopharma in a research report on Wednesday, May 15th. JMP Securities reiterated a “market outperform” rating and issued a $17.00 target price on shares of Sutro Biopharma in a report on Wednesday, April 3rd. Piper Sandler restated an “overweight” rating and issued a $11.00 price target (down previously from $12.00) on shares of Sutro Biopharma in a research report on Wednesday, April 3rd. Finally, Wedbush reiterated an “outperform” rating and set a $8.00 price objective on shares of Sutro Biopharma in a research report on Tuesday, May 14th. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $12.50.

Sutro Biopharma Price Performance

STRO opened at $3.05 on Tuesday. Sutro Biopharma has a fifty-two week low of $2.01 and a fifty-two week high of $6.13. The firm has a market capitalization of $249.47 million, a P/E ratio of -1.62 and a beta of 1.24. The company’s 50-day moving average is $3.78 and its 200 day moving average is $4.17.

Sutro Biopharma (NASDAQ:STRO) last announced its earnings results on Monday, May 13th. The company reported ($0.95) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.92) by ($0.03). The business had revenue of $13.01 million during the quarter, compared to analysts’ expectations of $11.57 million. Sutro Biopharma had a negative return on equity of 94.18% and a negative net margin of 74.61%. On average, equities research analysts expect that Sutro Biopharma will post -3.19 earnings per share for the current year.

Hedge Funds Weigh In On Sutro Biopharma

Several institutional investors and hedge funds have recently bought and sold shares of the company. Virtu Financial LLC raised its stake in Sutro Biopharma by 276.7% in the 1st quarter. Virtu Financial LLC now owns 63,157 shares of the company’s stock valued at $357,000 after acquiring an additional 46,391 shares during the period. Jacobs Levy Equity Management Inc. boosted its stake in Sutro Biopharma by 214.3% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 1,069,522 shares of the company’s stock worth $6,043,000 after purchasing an additional 729,239 shares during the period. Public Employees Retirement System of Ohio boosted its position in shares of Sutro Biopharma by 56.5% in the first quarter. Public Employees Retirement System of Ohio now owns 96,657 shares of the company’s stock valued at $546,000 after acquiring an additional 34,879 shares during the period. Price T Rowe Associates Inc. MD grew its stake in Sutro Biopharma by 24.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 18,027 shares of the company’s stock valued at $102,000 after acquiring an additional 3,578 shares in the last quarter. Finally, Lazard Asset Management LLC bought a new stake in Sutro Biopharma during the 1st quarter worth approximately $92,000. 96.99% of the stock is owned by institutional investors.

Sutro Biopharma Company Profile

Sutro Biopharma, Inc operates as a clinical-stage oncology company. The company develops site-specific and novel-format antibody drug conjugates (ADCs) that enables its proprietary integrated cell-free protein synthesis platform, XpressCF and XpressCF+. Its product candidates include STRO-002, an ADC directed against folate receptor-alpha, which is in Phase II/III clinical trials for patients with ovarian and endometrial cancers; VAX-24 and Vax-31 pneumococcal conjugate vaccine candidates that is in Phase II/III clinical trials for the treatment of invasive pneumococcal disease; and MK-1484, a distinct cytokine derivative molecule that is in Phase I clinical study for the treatment of cancer.